Azzad Asset Management Inc. ADV Purchases 83 Shares of Atlassian Co. (NASDAQ:TEAM)

Azzad Asset Management Inc. ADV raised its position in Atlassian Co. (NASDAQ:TEAM) by 3.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,410 shares of the technology company’s stock after buying an additional 83 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Atlassian were worth $511,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TEAM. Empowered Funds LLC raised its position in shares of Atlassian by 39.6% during the fourth quarter. Empowered Funds LLC now owns 3,361 shares of the technology company’s stock worth $818,000 after acquiring an additional 953 shares during the last quarter. Savant Capital LLC bought a new stake in Atlassian in the fourth quarter worth approximately $248,000. Asset Management One Co. Ltd. increased its holdings in Atlassian by 17.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 68,226 shares of the technology company’s stock worth $17,064,000 after purchasing an additional 10,184 shares in the last quarter. Rhumbline Advisers increased its holdings in Atlassian by 1.6% in the fourth quarter. Rhumbline Advisers now owns 198,041 shares of the technology company’s stock worth $48,199,000 after purchasing an additional 3,067 shares in the last quarter. Finally, Palumbo Wealth Management LLC bought a new stake in Atlassian in the fourth quarter worth approximately $223,000. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Performance

Shares of TEAM opened at $196.82 on Monday. The firm has a market cap of $51.67 billion, a PE ratio of -146.88 and a beta of 0.96. The stock’s fifty day moving average price is $210.71 and its two-hundred day moving average price is $242.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. On average, equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Mizuho lowered their target price on Atlassian from $325.00 to $290.00 and set an “outperform” rating for the company in a report on Thursday. Truist Financial reduced their price objective on Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Morgan Stanley reduced their price objective on Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen cut Atlassian from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Canaccord Genuity Group reduced their price objective on Atlassian from $300.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $282.19.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 7,674 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $1,730,563.74. Following the transaction, the president now directly owns 192,260 shares in the company, valued at $43,356,552.60. This represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the completion of the transaction, the chief executive officer now owns 71,532 shares in the company, valued at $15,515,290.80. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,759 shares of company stock worth $74,833,479 over the last ninety days. 38.55% of the stock is currently owned by company insiders.

Atlassian Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.